Muslims believed that this verse refers to a special
[miraculous] night journey to Jerusalem, where he ascended
to heaven and met with Allah. The Mosque in Jerusalem is
supposedly built to commemorate this event. Interestingly,
however, nothing in this mosque tells us about this event.
Instead, the whole mosque is written with Qur'anic verses
against Jews and Christians. It should be remembered, however,
the after the event, Muhammad returned to earth to continue
till the end of his life. This is quite unlike the ascension
of Enoch and Jesus.

"He speaks, but not with tongues as men do. He speaks to some
of His servants without intervention of another, even as He
spoke to Moses, and to Muhammad on the night of ascension to
heaven. He speaks to others by instrumentality of Gabriel, and
this is the usual way in which He communicates His will to the
prophets." (Al-Ghazzali, quoted in Hughes's Dictionary,
p.147)